THE UK'S LEADING DEVELOPER OF LOCAL AND NEIGHBOURHOOD RETAIL CENTRES

Oakridge Park, Milton Keynes

Newcrest established a joint venture with Persimmon in mid-2012 to develop a commercial scheme at Oakridge Park, Stantonbury – a suburb of Milton Keynes. The existing planning permission required some optimisation to fit with the prevailing commercial requirements of key retailers, but also to reduce the allocation of office space, which was unviable in the location.

The project was completed in 2016 and ASDA is trading from a 15,000 square foot store. Due to the quality of the design and the selection of the right contractor, the handover to ASDA was smooth and eventless. Using Newcrest’s knowledge of occupiers’ requirements and ensuring that the contractor met ASDA’s exacting standards, the store opened quickly and efficiently, and value was crystallised for all of the stakeholders.

In addition to the food store, a mixed-use commercial parade of around 10,000 square feet was designed and constructed, incorporating potential retail, beauty and medical uses. The same professional team and contractor met complex needs for quality of space, satisfying occupational requirements on time and on budget. The overall quality of the development and the increasing success of its occupiers has made it a valued community asset for the neighbouring residents.